Jarir inks SAR 8 mln lease agreement with Sehat Al-Sharq

Jarir Marketing Co. has inked a lease agreement with Sehat Al-Sharq Medical Co. Ltd at a total value of SAR 8 million per annum, the company said in a bourse statement.

Under the 20-year agreement, Sehat Al-Sharq will lease Jarir’s residential building in Al Khobar which comprises eight stories and 112 units.

The relevant financial impact will reflect on the company’s financials as of Q3 2019.

Sehat Al-Sharq is 50 percent owned by Jarir Investment, which is indirectly owned by Jarir Marketing.